68
Q:

What is the meaning of TDS? How it is charged? 

Answer:



Q:

Generally accepted accounting principles are

Answer

Generally Accepted Accounting Principles (GAAP) are basic accounting principles and guidelines are concepts that govern the field of accounting.


 


Accounting principles and guidelines include :


 


* Business Entity Assumption


* Accounting Period


* Historical Cost Concept


* Full Disclosure Principle


* Cost Principle


* Matching Principle


* Materiality


* Monetary Unit Assumption.

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Q:

Party account can be created through

Party_account_can_be_created_through1552996763.jpg image

A) Inventory creation window B) Group creation window
C) Ledger creation window D) Any of the above
 
Answer & Explanation Answer: C) Ledger creation window

Explanation:
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0 166
Q:

Which tax is paid to a third party?

A) Indirect B) Income
C) Flat D) Direct
 
Answer & Explanation Answer: A) Indirect

Explanation:

The tax that is paid to a third party is Indirect tax.

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1 274
Q:

Which capital gains tax on property?

Answer

Capital Gains Tax on Property:


1. Short term,


2. Long term


 


Short Term Capital Gain on property is considered as a gain from selling a property which was held by you for less than 36 months. As a taxpayer, you are liable to pay tax on short term capital gain on property as per your applicable marginal income tax slab.


* Current Short Term Capital Gains tax rate is 30%.


 


Long Term Capital Gain



When you sell your property that is owned by you for more than three years, any gain arising from such sale will be considered as long term capital gain. Long term capital gain is calculated as the difference between net sales consideration and indexed cost of property.


* Current Long Term Capital Gains tax rate is 20%.

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1 238
Q:

A debit signifies a decrease in

A) revenues B) liability
C) owner's equity D) All of the above
 
Answer & Explanation Answer: D) All of the above

Explanation:
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0 356
Q:

Accounts that normally have debit balances are

A) Assets,Expenses,and Common stock B) Assets,Dividends,and Expenses
C) Assets,Expenses,and Revenues D) All of the above
 
Answer & Explanation Answer: B) Assets,Dividends,and Expenses

Explanation:
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1 291
Q:

Standard deviation measures which type of risk?

A) Non diversifiable B) Economic
C) Systematic D) Total
 
Answer & Explanation Answer: D) Total

Explanation:

Standard deviation measures total risk in stocks.

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1 289
Q:

Which of these is an example of eminent domain?

A) a corporator forces public for sell their lands to him B) a state forces people to sell their fields for building highway
C) Both A & B D) None of the above
 
Answer & Explanation Answer: B) a state forces people to sell their fields for building highway

Explanation:

A legal strategy that allows a government to grab hold of private property for public use is known as eminent domain. The seizing authority must pay fair market value for the property seized.

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